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. >> the rising cost of sandy, one major risk modeling firm now says the economic losses from the storm could reach $50 billion. >> and china steps insecurity ahead of next week's com you uhe nis party congress. even model airplanes have been grounded. if you're just joining us, very good morning to you. this is where we stand. we are at the moment dow 24 points below fair value. let's show you where we is an with you're feuropean stocks. cac down half a percent, ftse 100 down 0.2%. let's show you some individual stocks in focus. losses on friday hurt by a sector wide slump. equipment maker cutting back spending down as you can see merely 7%. rbs coming out with results this morning. this is the uk bank with a government owned majority and part nationalized lending reporting an increase in third quarter. deutsche telecom considering slashing it dividend according to reports. let's show you where we stand on the currency markets. the dollar today ahead of the u.s. jobs report. we'll show you sterling-dollar slightly weaker. dollar slightly firmer against the aussie. and dollar firmer against t
. >> campaigning resumes as the northeast assesses the damage from super storm sandy. good and big earnings day for oil giants giants. shell sees a fall and exxonmobile due to report before the opening bell. >> growth recovery may be near. official october pmi bouncing back into expansion territory. >>> we're under way just one hour and an awful lot to to get to. >> new york city still struggling to right itself after monday's super storm. one stap he have the big apple will return, the mta will resume partial subway service on 14 lines. la guardia airport will also reopen at 7:00 a.m. with limited service. amtrak says it will try to restore service to penn station come friday. >> homes in bay ahead are seriously damaged or destroyed. president obama got a firsthand look with governor chris christie yesterday afternoon. >> and danielle lee joins us, she's in the town of toms river. and we know this is one of the hartest hit areas. with you tell us how extensive the damage is? >> all of those popular summertime vacation communities are cut off from society. and there are stand reminders, bits o
talk about the october surprise before the elections. this year maybe it was super storm sandy. in china, it seems to be the emergence of the one seen behind of scenes as pulling the strings here. you can explain to people why we're suddenly talking about him and what his importance is? >> even though the people's republic is 63 years old, they don't really have a system in place for succession. mao was leader for life until he died. and then his successor was again a strong man, he was not the president, not a prime minister, not a party general secretary, but he was the ultimate leader. and he decided that min would take over after him and then hugh engine you take you. thousand he's gone. there's nobody around, nobody from the first generation could decide who the next leader will be. so it's the current generation of leaders who have to decide for themselves how they will be succeeded. and this is a totally new experience for china. >> and it's also an experience that the rest of asia is watching very closely. as you say, despite the global media attention very much big on
maintained its 2012 targets despite super storm sandy. we'll speak to the cfo. >> plus coming up we bring you your very own blockbuster. [s #. >>> china releases improved economic data for october on the second day of the communist party congress. beijing inflation continues to cool. >> allianz maintains its full rear target despite super storm sandy on the back of solid quarterly results. we'll hear from the cfo. >> luxury goods make ir announces two ceos but admits to slowing asian sales. >> and credit agricole pays a steep price to exit greece as it takes a hit on the sale to alpha bank. >>> britain's trade deficit narrowed a little bit more than expected in september. third quarter construction up, but also falling by an amount similar to earlier estimates reduces the chance of a downward revision to that strong third quarter gdp number, as well. so official data showing britain's deficit shrinking to 8.4 billion pounds in september. it was 10 billion pounds in august. the quarterly trade graph closed, as well. just for the record, economists were forecasts september goods deficit of 8.9
sandy struck. and a cold snap is setting in to the region and nor'easter is forecast for mid week. more fuel facilities are coming back on on line. hess has restored several terminals. governor christie has imposed an odd/even rule, this is when drivers could get gas to alleviate over the extremely long fuel lines. >>> on the eve of the u.s. elections, the race for the white house couldn't be any teeter. the final "wall street journal" poll of likely voters shows president obama leading mitt rom any by just one percentage point, 48% to 47% margin. polls in many battleground states remain too close to call. a running average of all national polls by real clear politics has the two men between 0.2% of each other. >>> at the same time, romney may not get to label china a currency manipulator if he becomes president because the power to do so doesn't lie with the commander in chief, but with the u.s. treasury secretary. analysts warn that provoking beijing could put bilateral trade at risk. joining us for more, chairman of the asian pacific council at the american chambers of down. steven,
. the market cap of australia's top insurer eroded on news that losses from super storm sandy will cut deeply into its bottom line. qb says it's now looking to raise half a bell i don't know dollars in debt to make up for around 300 to $450 million in losses from u.s. storm damage. the insurer still expects 30% more annual profit than last year, but it's a big step down from the strong profit picture painted through the first half. more corporate earnings there japan. in the philippines, ayala third quarter figure. i said i can't, malaysia and singapore markets closed to celebrate the festival of lights. >>> still to come, this week's installment of our trade links special. we'll talk about the challenges of building a start up abroad with the founder of the eco-friendly diaper company. >>> establishing a business can be a daunting task particularly to start ups and small businesses as the founders of an eco-friendly diaper company found out. kelly started asking by what challenges they encountered when they decided to move their business from australia to the united states. >> there was a ve
re says sandy caused more than $1 billion in claims. more details when we come back. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >>> france's finance minister insists europe is close to a deal on greece as ministers arrive for the latest sun mitt in brussels. catalonia's push for independence deals a major blow for the president's plans for secession. and the figure for hurricane sandy may rise. plus in the united states, consumers filled up their shopping cart and then kept coming back for more. european stocks after a good week last week, strong gains. cac 40 down half percent. a little weaker for the ibex. yields fairly steady. spanish 5.65 and kircurrency dollar, we hit the one month high in euro-dollar on friday. drar yen also off its 7 1/2 month highs, as well. over in hong kong, the amount investors had a strong appetite for the listing. shares up 16% before pulling back
.m., expected to drop 15,000 as we continue to work through hurricane sandy can disrupgss. gdp growth expected to be revised higher. and 10:00, october pending home sales. and for earnings, kroger, tiffany, barnes & noble. now, the british are taking chicago by storm. we'll take you to the windy city next for the unveiling of burberry's new flagship store. >>> global 45r kets higher. uk see as sharp drop in lending to the real economy. and the search for the lucky power ball winners is on. two tickets match the record $580 million drawing. iberia labor unions have confirmed they'll call a six day strike in december. it will start december 14th and last through december 21st. this comes amid the airline saying it will slash about a quarter of the spanish airlines workforce and cut capacity as part of a restructuring plan. air freight traffic slowed to 3.8% year on year growth and just under 2% month on month growth for the month of october. passenger air traffic was up 3.2% this october, but it did actually decline in october by 0.2%. so a cautionary sign there for global demand. moving on now,
of hurricane sandy. the october cpi index is also out at 8:30, expected to rise 0.1%. at the 10:00, the november philly fed survey. ben bernanke speaks this afternoon about financial literacy. jeffrey lacker and richard fisher will also be speaking about the economy. walmart and target report results before the open. we'll also get the numbers from dollar tree stores, viacom and game stop. in asia tomorrow, we'll also have more coverage and analysis on china's newly announced leadership. on the economic front, hong kong and malaysia will be posting third quarter gdp figures. singapore will issue revised q3 growth numbers. so not just the eurozone that's slowing. still to come, more on china's once in a decade leadership transition. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and my daughter loves the santa. oh, ah sir. that is a customer. let's not tell mom. [ male announcer ] break from the holiday stress. fedex office. three words dad, e-trade financial consultants. they'll hook you up with a solid plan. wa-- wa-- wait a minute; b
in the eurozone. and hanover beating forecasts saying it will be able to absorb damage claims from sandy without effecting its annual disaster budget. on the currency markets, aussie dollar 1.0423. rba keeping rates steady. dollar-yen slightly weaker, but still above 80. euro-dollar out of the 1.28 range that we've been trading in. that's where we stand on the european trade. on the day of the u.s. elections, let's get over to singapore. >> asian markets finished on a mixed note. the shanghai composite recouped early losses to close down by 0.4%. developers took a beating after data showed housing prices in the small business hub dropped 16% on on year. but shale gas producers surged on a new subsidy program. concerns over money laundering charges with the hsbc. nikkei finished lower as a stronger yen hurt exporters. nissan lost 2% ahead of earnings after morgan stanley slashed its price target. after the bell, the carmaker cut its full year forecasts as sales tumbled in china. the kospi ended higher by 1%. carmakers staged a rebound after yesterday's plunge. hyundai rallied over 4%. kia gained
.1 million barrels a day. impact of hurricane sandy in the u.s., reduced, as well. crude oil supply dipped to a nine month low. so the demand being cut, patrick armstrong is where us, managing partner at investment managers. but that's clearly because of global weakness -- well, economic weakness in europe and hurricane impact. >> definitely. year over year, oil demand is up. we've had very weak economy in europe. not much growth in the united states. but i think that's the trend we'll be playing out for the next few years. >> oil 110 at the moment. is that a fair price? >> there's premium built in because of geopolitical risks. i think premium is probably justifiable. you look at wti at $23 discount to where breptd is. that's not sustainable in the long time, but given inventory levels, that will stay. >> do you keep your trade on oil? >> we have neutral position, but we're short the front month. respe respect. we make money by rolling the contracts the other way around. we're long oil in the 12 months forward rolling in to the 13th month and we end up with little more oil with that strat
. this is the carryover effect from hurricane sandy. with so many vehicles that were either damaged or destroyed, it's been for some time now a very tight market when it comes to rental cars in the northeast, in the new york, new jersey, connecticut area, rhode island. and as a result, what you have is a market where people who might in the past have rented a car in order to drive 300 or 400 miles, this time, they're out of luck. they've got to find other ways of getting around. that's one reason why here in the united states, especially in the northeast this year, there is expected to be an increase in the number of people who are taking a bus. i know we have the ceo from the peter pan bus lines coming on shortly. but that's what we're going to see in the northeast. so it's a little unusual. the good news, if there is good news, ross, the weather is okay. you're not going to see massive long delays at the airports. that's certainly good. hopefully for those who are driving who do have a car, whether it's their own or a rental car, they'll be able to get around rather smoothly. >> phil, because of t
sandy impact there. also the producer price index. at 10:00, september business inventories are out. at 2:00, it's minutes from the fed's latest meeting. lots of earnings to hear from. abercrombie & fitch, staples and tyco all report results before the open. >>> we'll take a short break. washington is trying to fix america's fiscal crisis once and for all. >> so how will the cliffhanger play snout we'll discuss when we come back. also we'll get the bank of england's inflation report. mervin king is due to sit down at his desk any minute now. >>> welcome back to "worldwide exchange." >> these are your headlines today from around the world. >> the transition of china's top brass is under way as jintao steps aside as communist party leader. the new central committee will name the politburo's inner circle tomorrow. >> cisco posted better than expected first quarter numbers. >> italy on track to meet its funding needs for 2012. rome auction s 3.5 billion euro. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> before we hear from mervin king on
estate last year and much of that is washing up on the sandy shores of miami. a mansion recently sold for $47 million. the most ever paid for a miami house. the buyer, a russian. brokers say russians are far and away the single largest group buying mega homes priced at $20 million or more. we went mansion shopping about one of the jills, the team that sold the $47 million home. our first stop, a mediterranean style mansion with ten bedrooms, five bathrooms and two docks for your matching yachts. the pool is more like a man mad oig manmade lagoon. the price for all this luxury, $37 million. nest up, a more moderate mansion right on the beach. or take the elevator. this $21 million home has five bedrooms and nine bathrooms to navigate. our buyer didn't close any deals that day, but one wealthy russian may he said up with miami's greatest real estate prize, the versace mansion. the 20,000 square foot sat dough on the south beach strip is on the market for $125 million, which means that miami's new record may be broken soon. >> many brokers at miami are forming joint ventures to learn new
for big ticket items is expected to drop 1.2% with some impact potentially from hurricane sandy. case shirl index. home prices expected to raise about 3% in september. and at 10:00, november consumer confidence. analysts expect a reading of 73 can would be up a point from last month. dallas fed president richard fisher and atlanta fed president deny this lockhart are both speaking in berlin. richard fisher expressing concern that the size of the monetary policy easing in the u.s. is abnormally large. of course you might argue the abnormal conditions warrant that. never the the less, we'll also look at earnings from adt and green blount continmountain. the greek deal is done. athens will receive its much needed bailout cash. >> our common goal is that greece achieve a credible and sustainable reduction reaching lower than 110% of gdp in 2022. we will consider further measures if necessary to achi e achieve. >> one of the key points, silvia is back with us from brussels. good morning. and there are so many points. which are the most significant? >> well, we knew there was a sort of all
Search Results 0 to 14 of about 15

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